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48 <br /> <br />EDA GENERAL <br /> <br />Function: Economic Development <br />Supervisor: Community Development Director <br />Fund#: 250 <br />Activity#: 47300 <br /> <br />Activity Scope <br /> <br />This Special Revenue Fund accounts for general administration activities that are not <br />specific to any individual Tax Increment Financing (TIF) District, as well as activities <br />associated with the Economic Development Commission and Economic Development <br />Authority. <br /> <br />Objectives <br /> <br />1. Research the City revolving loan program, restrictions, guidelines, and possible <br />future uses. <br />2. Consider the use of TIF District 2 funds for Round Lake Road and sanitary sewer <br />improvements. <br />3. Consider the use of TIF District 3 funds for low to moderate housing needs. <br />4. Review operating budget and identify a sustainable funding source. <br />5. Consider establishing a business retention program. <br /> <br />Issues <br /> <br />1. Consistent administration of the City’s policies, plan, ordinances, guidelines, <br />statutes, etc. <br />2. Promotion of industrial property available. <br /> <br />Measurable Workload Data <br /> <br />None developed at this time. <br /> <br />Budget Commentary <br /> <br />The revenue to this fund has been primarily excess increment and interest income <br />in the past years with transfers from the General Fund from 2008 - 2011. A <br />transfer was made in 2012 and 2013 for the Conduit Debt revenue received in <br />2011 and 2012 from the Presbyterian Homes project. The tax increment excess <br />funding source expired in 2015. Transfers from the General Fund have are now <br />the prime funding source. <br /> <br />An administrative charge was established in 2008 and all funds are charged back <br />for overhead costs associated with Administration, Finance and Administrative <br />Services, and Government Building departments in the General Fund. Other costs <br />such as auditing, financial software, IT, and insurance have been allocated to this <br />fund also.